Vestmark Advisory Solutions Inc. Sells 219 Shares of Broadcom Inc. (NASDAQ:AVGO)

Vestmark Advisory Solutions Inc. lowered its position in shares of Broadcom Inc. (NASDAQ:AVGO) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,508 shares of the semiconductor manufacturer’s stock after selling 219 shares during the quarter. Vestmark Advisory Solutions Inc.’s holdings in Broadcom were worth $5,032,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of AVGO. AtonRa Partners bought a new stake in shares of Broadcom in the 3rd quarter valued at about $206,000. Miracle Mile Advisors LLC lifted its position in shares of Broadcom by 1.0% in the third quarter. Miracle Mile Advisors LLC now owns 3,983 shares of the semiconductor manufacturer’s stock valued at $3,308,000 after buying an additional 40 shares during the last quarter. Means Investment CO. Inc. boosted its stake in shares of Broadcom by 40.7% during the 3rd quarter. Means Investment CO. Inc. now owns 377 shares of the semiconductor manufacturer’s stock worth $313,000 after acquiring an additional 109 shares during the period. Northstar Asset Management LLC increased its holdings in shares of Broadcom by 34.0% during the 3rd quarter. Northstar Asset Management LLC now owns 315 shares of the semiconductor manufacturer’s stock worth $262,000 after acquiring an additional 80 shares during the last quarter. Finally, Sage Mountain Advisors LLC lifted its holdings in Broadcom by 2.1% during the 3rd quarter. Sage Mountain Advisors LLC now owns 6,379 shares of the semiconductor manufacturer’s stock valued at $5,298,000 after purchasing an additional 131 shares during the last quarter. Institutional investors own 76.43% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on AVGO shares. Rosenblatt Securities reissued a “buy” rating and issued a $1,500.00 price objective on shares of Broadcom in a research report on Thursday, March 21st. Oppenheimer reissued an “outperform” rating and issued a $1,500.00 price target (up from $1,100.00) on shares of Broadcom in a report on Friday, March 1st. Benchmark reaffirmed a “buy” rating and issued a $1,720.00 target price on shares of Broadcom in a research report on Thursday, March 21st. Mizuho upped their price objective on Broadcom from $1,450.00 to $1,550.00 and gave the company a “buy” rating in a report on Thursday, March 7th. Finally, Cantor Fitzgerald lifted their target price on Broadcom from $1,300.00 to $1,600.00 and gave the stock an “overweight” rating in a report on Monday, March 4th. Three analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. According to MarketBeat.com, Broadcom presently has an average rating of “Moderate Buy” and an average price target of $1,285.41.

Broadcom Price Performance

NASDAQ:AVGO traded up $39.54 on Friday, hitting $1,278.11. The company had a trading volume of 2,489,755 shares, compared to its average volume of 2,435,058. The firm has a 50 day moving average of $1,308.66 and a two-hundred day moving average of $1,147.78. The stock has a market capitalization of $592.30 billion, a price-to-earnings ratio of 47.37, a PEG ratio of 2.52 and a beta of 1.25. Broadcom Inc. has a 52 week low of $601.29 and a 52 week high of $1,438.17. The company has a current ratio of 1.34, a quick ratio of 1.24 and a debt-to-equity ratio of 1.05.

Broadcom (NASDAQ:AVGO) last released its quarterly earnings data on Thursday, March 7th. The semiconductor manufacturer reported $10.99 earnings per share for the quarter, beating the consensus estimate of $8.95 by $2.04. The company had revenue of $11.96 billion for the quarter, compared to the consensus estimate of $11.79 billion. Broadcom had a return on equity of 47.71% and a net margin of 29.93%. Broadcom’s revenue for the quarter was up 34.2% on a year-over-year basis. During the same quarter last year, the business posted $9.83 EPS. On average, research analysts anticipate that Broadcom Inc. will post 35.96 earnings per share for the current year.

Broadcom Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Thursday, March 21st were issued a $5.25 dividend. The ex-dividend date was Wednesday, March 20th. This represents a $21.00 dividend on an annualized basis and a yield of 1.64%. Broadcom’s dividend payout ratio (DPR) is presently 77.84%.

Insider Buying and Selling

In other news, insider Mark David Brazeal sold 2,500 shares of the firm’s stock in a transaction on Wednesday, April 10th. The shares were sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares of the company’s stock, valued at $55,257,092.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Broadcom news, Director Eddy W. Hartenstein sold 3,150 shares of the stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $1,290.34, for a total transaction of $4,064,571.00. Following the completion of the sale, the director now owns 4,643 shares of the company’s stock, valued at approximately $5,991,048.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Mark David Brazeal sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The stock was sold at an average price of $1,316.46, for a total transaction of $3,291,150.00. Following the completion of the transaction, the insider now owns 41,974 shares in the company, valued at approximately $55,257,092.04. The disclosure for this sale can be found here. Insiders have sold a total of 29,920 shares of company stock worth $40,306,667 in the last ninety days. Company insiders own 2.00% of the company’s stock.

About Broadcom

Broadcom Inc designs, develops, and supplies various semiconductor devices with a focus on complex digital and mixed signal complementary metal oxide semiconductor based devices and analog III-V based products worldwide. The company operates in two segments, Semiconductor Solutions and Infrastructure Software.